Cabinet nods Nutrient Based Subsidy rates for Phosphatic and Potassic Fertilisers for FY22

The rates have come into effect from 1st October 2021 and will be available to 31st March 2022.

Oct 13, 2021 12:10 IST India Infoline News Service

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The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Fertilizers for fixation of Nutrient Based Subsidy Rates for P&K Fertilizers for the year 2021-22.

The rates have come into effect from 1st October 2021 to 31st March 2022.

The approved rates for Nutrient Based Subsidy (NBS) will be - Rs18.789 per kg subsidy for Nitrogen, Rs45.323 per kg subsidy for Phosphorus, Rs10.116 per kg subsidy for Potash and Rs2.374 per kg subsidy for Sulphur.

The total amount of Rollover will be Rs28,602cr.

The CCEA also approved the inclusion of Potash derived from Molasses (0:0:14.5:0) under the NBS Scheme.

The net subsidy required for Rabi 2021-22 after deducting savings will be Rs28,655cr.

This will enable smooth availability of all P&K fertilizers to the farmers during Rabi Season 2021-22 at the subsidized / affordable prices of fertilizers and support the agricultural sector by continuing the present subsidy levels and giving special packages of additional subsidy for DAP and three mostly consumed NPK grades.

lt will give Rs. 438 per bag benefit on Di-Ammonium Phosphate (DAP) and Rs. 100 per bag benefit each on NPK 10-26-26, NPK 20-20-0-13 & NPK 12-32-16 to maintain prices of these fertilizers affordable to the farmers.

The subsidy on P&K fertilizers will be provided based on the NBS rates approved by the CCEA to ensure the smooth availability of these fertilizers to the farmers at affordable prices.

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